MIAMI, FL – IHG (InterContinental
Hotels Group), [LON: IHG, NYSE:IHG (ADRs)], the world's largest hotel
group by
number of rooms, announced that it has signed a 20-year management
agreement
with Chile-based Inmobiliaria Punta Piqueros, S.A. to manage a
new-build
InterContinental hotel in Punta Piqueros, within the district of
Concon, in
north-Central Chile, and in close proximity to Viña del Mar, one
of the
country’s most fashionable resort areas.

“After meeting with a number of
international hotel companies in Chile, we felt that IHG was the ideal
fit for
this property, given their long-standing track record in the country,
as well
as throughout Latin America,” said Inmobiliaria Punta Piqueros, S.A.’s
José
Domingo Eluchans Urenda.

Overlooking the Pacific Ocean,
the 140-room oceanfront InterContinental Punta Piqueros will be
situated in one
of the city’s highest points within the district of Concon, three miles
(five
kilometers) from downtown Viña del Mar, and seven miles (eleven
kilometers)
from the renowned port city of Valparaiso, an UNESCO world heritage
site.
The property will feature a 10,000 square foot resort-style gym and spa
with
accompanying indoor/outdoor pool and sauna, along with 9,500 square
feet (883
square meters) of meeting space, covered parking for 150 vehicles, two
restaurants, a lobby bar and wine bar. Construction is underway with an
estimated opening date of January 2013.

“Chile is and always has been a
strategic market for us,” says Jim Anhut, Chief Development Officer,
IHG,
Americas. “The opportunity to further our portfolio in Chile
through this
iconic resort property is an important demonstration of our commitment
to
growth in the Southern Cone.”

Viña del Mar is Chile's largest
and best-known beach resort town. The town offers gorgeous scenery of
attractive homes, manicured lawns and golden beaches dotted with
colorful
surfboards. Viña del Mar is also home to the Viña del Mar
International Song
Festival, the most important Latin American music festival, drawing
nearly
30,000 spectators nightly during the 5-day festivities. Held
annually in
February since 1960, the festival has booked national and international
artists
such as Tom Jones, Gloria Gaynor, Nelly Furtado and Daddy Yankee.
Viña
del Mar is also within close proximity to some of Chile’s most
well-known
vineyards.

The hotel will be the 10th IHG
property in Chile, complementing an existing InterContinental, a Crowne
Plaza,
a Holiday Inn hotel and six Holiday Inn Express properties. IHG
has
existing properties within six cities in Chile, this new property in
Concon,
near Viña del Mar, will be the seventh city.

“This property is ideally suited
for the InterContinental brand,” concludes Alvaro Diago, COO, IHG,
Latin
America and Caribbean. “It meets our brand hallmarks by affording
guests
a property with the highest international standards, all the while
providing
the ‘in the know’ access to local venues, which is such an important
and
appealing component of this brand.”

As the world’s first truly global
hotel brand, InterContinental Hotels & Resorts has had a continuous
presence in Latin America since it was established in Brazil in
1946.
There has been no brand in the region with more international appeal.
InterContinental Hotels & Resorts strives to provide its guests
with an
experience that is unique to each destination and prides itself on
maintaining
uncompromised global standards and respect for the heritage of the
communities
each hotel calls home.

Currently there are 19
InterContinental Hotels & Resorts properties Latin America and the
Caribbean. The latest InterContinental hotels to open in the region
include the
InterContinental Mendoza (Argentina) and the InterContinental Maracaibo
(Venezuela). The InterContinental Nordelta Buenos Aires
(Argentina) will
be next, with a scheduled opening of May 2011.

IHG has nearly 200 hotels in
Mexico, Central and South America and the Caribbean, and has been
serving Latin
America for 65 years. IHG has hotels situated in nearly every key
market
throughout Latin America and the Caribbean.

About
InterContinental Hotels & Resorts
InterContinental
Hotels & Resorts has 170 hotels, located in more than 60 countries
with
local insight that comes from over 60 years of experience. For more
information, visit www.intercontinental.com
and www.intercontinentalvideo.com

InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is the
world's
largest hotel group by number of rooms. IHG franchises, leases,
manages
or owns, through various subsidiaries, over 4,400 hotels and more than
640,000
guest rooms in 100 countries and territories around the world.
The Group
owns a portfolio of well recognized and respected hotel brands
including
InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne
Plaza® Hotels
& Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn
Express®,
Staybridge Suites® and Candlewood Suites® and also manages the
world's largest
hotel loyalty program, Priority Club® Rewards with 56 million
members
worldwide.

IHG has almost 1,300 hotels in its development pipeline, which is
expected to
create 160,000 jobs worldwide over the next few years.

InterContinental Hotels Group PLC is the Group's holding company and is
incorporated in Great Britain and registered in England and Wales.